Emergency Fund Wisdom - Carl Gerhardt

By Carl Gerhardt

Most good financial advisors will tell you that having a personal emergency fund is just common sense. The recommendation is to have a big enough cash stash to cover your personal living expenses for three to six months. I think this is doubly true for small business owners. Your accountant may tell you that having at least a 2:1 current ratio is also a good guideline, meaning for every one dollar you have in current liabilities, you have two dollars in current assets on your balance sheet.

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Companies:
Allegra Network

Carl Gerhardt Author's page Carl Gerhardt is the chairman of Alliance Franchise Brands LLC, the parent company of Allegra Network LLC and Sign & Graphics Operations LCC, and a world leader in marketing, visual and graphics communications, linking more than 600 locations in the United States, Canada and United Kingdom. The company’s Marketing & Print Division, headquartered in Plymouth, MI, is comprised of Allegra, American Speedy Printing, Insty-Prints, Speedy Printing and Zippy Print brands of marketing, printing, mailing and Web services providers. Its Sign & Graphics Division, headquartered in Columbia, MD, is comprised of Image360, Signs By Tomorrow and Signs Now brands of sign and graphics communications providers.

Carl and his wife, Judy, owned and operated their own successful Allegra franchise for nearly 20 years before selling the $2.3 million operation in 2003. He is a PrintImage International/NAQP Honorary Lifetime Member and was inducted into NAPL’s prestigious Soderstrom Society in 2010 in recognition of his contribution to the industry.